NZD/CHF currency pair has been trading in a descending pattern during the past two weeks. The exchange rate tested the dominant channel on June 14 and fell to a one-month low level.
A strong resistance cluster set by the combination of the 55-, 100-, 200-, hour SMAs and the weekly and the monthly PPS located near the 0.69 regions has pushed the price lower.
In the meantime, technical indicators flash sell signals during this week sessions, indicating that the currency exchange rate might decline further south toward the bottom border of the dominant pattern.
